Retail news round-up on March 13, 2014: Jack Wills likely to announce chairman, Ocado founder doubles pay, and John Lewis to open at Heathrow Terminal 2.
Jack Wills likely to announce Lord Davies as chairman
Former trade minister Lord Davies is expected to take up the chairman role at preppy UK fashion chain Jack Wills, Sky News understands. The announcement is expected to be made today in a sign that the retailer is gearing up for an eventual stock market debut. Its existing board members include former Burberry director Rose Marie Bravo and an ex-McKinsey and Vodafone executive Wendy Becker as its chief executive.
Ocado’s chief executive Tim Steiner doubles pay in 2013
Ocado has doubled its chief executive and founder Tim Steiner’s pay last year to £1m, The Independent reported. The board decided to increase his basic salary by 19% to £417,000 a year, while warehouse staff and delivery drivers saw their pay rise by only 2.6%. Steiner’s hike was due in part to the successful tie-up with Morrisons, and also saw his annual bonus climb to £528,000 from £104,000.
John Lewis to open first airport store at new Heathrow Terminal 2
Heathrow will promote UK retail in its new Terminal 2 worth £2.5bn, The Telegraph reported. John Lewis will open its maiden airport store and Heston Blumenthal is to launch his one and only new restaurant this year in the new terminal. Of the 69 outlets and restaurants in the new Terminal 2, a ‘disproportionate’ amount will be British brands, said Heathrow’s development director John Holland Kaye.
John Lewis’ decision to open its first store in an airport marks the first step in its international expansion plans, as it looks to boost its brand awareness globally. Alongside the retailer will be British fashion brands Mulberry and Cath Kidston.